Safehold Inc. has closed on ground leases to facilitate the ground-up development of four affordable housing communities in Northern California. The low-income tax credit developments total 781 units across four locations: three in San Jose and one in Concord, California. The projects will be built by The Pacific Companies, a prolific and highly experienced developer of affordable housing throughout the Western United States.

Safehold closed a total of six ground lease transactions during the second quarter of 2024.